By the AFREEQUE newsroom, based on Lusaka Times
Zambia’s external debt has fallen by 5% to $15.35 billion. The government has resumed servicing its restructured loans and is nearing the end of the restructuring process, Finance Minister Situmbeko Musokotwane told Parliament.
Finance and National Planning Minister Situmbeko Musokotwane presents a proposed national budget of 284.8 billion kwacha for 2027, equivalent to 28.4% of gross domestic product. Domestic revenues are expected to finance 233.7 billion kwacha, or 82.1% of the budget, according to Situmbeko Musokotwane.
🇿🇲 Zambia · Source: Lusaka Times ·
Zambian Finance Minister Situmbeko Musokotwane presented a 2027 budget of 284.8 billion kwachas, up from 253 billion in 2026, with VAT rising from 16% to 16.5% and a 39.5% tax rate above 37,000 kwachas a month. The plan also includes a tax on mobile money transactions and 3,125 health sector recruits, according to News Diggers.
🇿🇲 Zambia · Source: News Diggers ·
Zambian Finance Minister Situmbeko Musokotwane has proposed a new marginal income tax band of 39.5% for people earning more than 37,000 kwachas per month. Incomes below this threshold will remain subject to the current tax schedule, according to Zambian Watch.
🇿🇲 Zambia · Source: Zambian Observer ·
The Senegalese Parliament’s Finance Committee rejected the proposed 2027 budget of the Ministry of Mines and Geology, set at 7.4 billion CFA francs. Minister Cheikhou Oumar Seck defended a priority for mineral development, allocated 5.8 billion CFA francs, and 3.1 billion CFA francs for investment, according to Seneweb.
🇸🇳 Senegal · Source: Seneweb ·
Zambia and Tanzania build $1.2 billion power interconnectorZambia and Tanzania are building the $1.2 billion TAZA power interconnector, which will link Eastern and Southern African electricity grids through about 1,200 kilometres of high-voltage lines. The project, agreed in 2014, is to enable exchanges of up to 500 megawatts, with the Zambian section expected to enter service in the second quarter of 2029.
Zimbabwean insurers urged to improve transparencyThe Twenty-Seven must thoroughly reform the insurance and pensions sector and strengthen investment transparency to restore public trust after decades of turmoil. The sector is facing a persistent credibility crisis, according to experts quoted by the Financial Gazette.The week in Africa
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